Supercharging growth
Whilst every company needs a steady flow of cash to flourish, insufficient working capital can really clip the wings of a fledgling business.
With six months’ trading history behind them and sales growing nicely, a UK-based importer and wholesaler of batteries should have been soaring.
However, with clients expecting 30-45-day credit terms and VAT on stock due on arrival to the UK, access to working capital was preventing them from hitting the heights.
Determined not to see their expansion plans grounded, the business approached Hilton-Baird Financial Solutions in search of a funding facility that would provide constant access to cash and outsourced credit control.
These requirements led our team to introduce them to recourse factoring, a product which releases cash against the value of invoices within just 24 hours of being raised, with the funder additionally providing a sales ledger management service.
We introduced the company to three funders who understood their business and whose lending appetite was aligned with our client’s background and requirements. Soon after, they had agreed a £150,000 funding line with the lender they felt was more focused to their needs.
If your business is being hampered by cash flow problems caused by your own success, we could help find funding that will finance growth. Contact us today on 0800 9774833 or info@hiltonbaird.co.uk to see how we could help. Alternatively, get a quick quote to see how much you might be able to access.
